The PRA may offer a general waiver to firms. These are referred to as waivers by consent under section 138A of the Financial Services and Markets Act 2000 (as amended by the Financial Services Act 2012) (FSMA).
A waiver by consent may be offered in exceptional circumstances where the PRA considers that a waiver should apply to a number of firms, for example, where an unmodified rule may not meet the circumstances of a particular category of firm. In these cases the PRA will inform the firms concerned that the waiver is available either by contacting them individually or by publishing details of the availability of the waiver on its website.
To take advantage of any of the waivers by consent listed below, a firm must email PRA-Waivers@bankofengland.co.uk, or write to the PRA Authorisations Team at the address below, stating its agreement to comply with any conditions included within the Waiver Direction.
PRA Authorisations - Authorisations Division
Prudential Regulation Authority
London EC2R 6DA
Available waivers and modifications by consent
The table below lists the available waivers and modifications by consent.